In the News (Tue 3 Mar 15)

After months' of disputing and arguing, the two sides appear to have reached an agreement on the matter of Kyknos and have even gone one step further to create "the start of a broader cooperation between the two sides".

Sharelink, Era and all other interested parties were at the AGM of Kyknos Investments yesterday afternoon, but it appears that the wind of change had already started blowing from the morning, when the two sides agreed to a compromise before the District Court of Nicosia.

Kyknos is expected to convene an EGM for July 30, 2001, during which the Chairmen of Sharelink and Era, Christodoulos Ellinas and Michalis Ioannides, are expected to urge small shareholders to accept the deal offered to them.

The Kyknos “saga” took on a new dimension yesterday, as both the two companies that had submitted rival bids for the investment company, reiterated their previous positions concerning their plans for the company.

SFS notes that by February 2, 2001, the deadline of its offer to Kyknos shareholders, it had not received enough “acceptance letters to secure a stake of at least 30% of the issued capital of Kyknos”.

If these sanctions are imposed, it will open the way to many Kyknos shareholders to sell their shares and warrants to SFS at 121 cents and 40 cents respectively, according to Era.

The letter to Communications Minister Averof Neofytou, a staunch and vociferous supporter of liberalisation and streamlining the public sector, noted that CyTA was spending hundreds of thousands of pounds daily to operate the call masking device, "the sole aim of which is to preserve the regime of monopoly".

While the all-share index rose 3.21 per cent, Kyknos stocks jumped 32.9 per cent as a phenomenal 29.3 million of its shares changed hands in the space of 90 minutes, causing brokers to dub it the `Kyknos Stock Market' yesterday.

Kyknos, the target of a fierce takeover bid between Sharelink and Era investments companies, added 30 cents to its share which closed at £1.21 and again boosted interest in the investment and financial sectors which outperformed everything in sight, recording gains of 7.27 per cent and 9.84 per cent respectively.

ollowing the approval of the proposed scheme of arrangement between Kyknos and SFS by all the classes of shareholders of Kyknos on the 30th of July 2001, the District Court of Nicosia officially gave the green light for the implementation of the proposed arrangement.

As a result of the agreement, and the fact that the SFS and Era Groups have fully resolved their differences, a closer association between the two companies is anticipated both in Cyprus and abroad.

In particular, it offers the opportunity to Kyknos shareholders to participate in the dynamic group of SFS, which will substantially improve their risk diversification profile, with notable prospects for capital gains in the mid and long-term future.

www.sfsnet.com /index.asp?target=archive (9219 words)

Greek Mythology: BLESSINGS OF ARES(Site not responding. Last check: 2007-10-12)

Like a stormcloud, Kyknos breaker of horses and Ares insatiate of battle, and as their horses on either side came facing, they neighed sharply, and the sound of their voices was breaking about them.

Kyknos, furious to kill the son of powerful Zeus, made a cast into the shield with his brazen spear, but could not break the bronze, and the gift of the god guarded him.

And now Amphitryons son, Herakles the powerful, swiftly struck, and forcibly with the long spear, between helm and shield, where the throat had been left unguarded, beneath the shin, and the manslaughtering ash spear cut through both tendons, for great was the strength of the man that was driven behind it.

Situated in a quiet area, just 10 minutes walk from the town of Malia and 32km east of the International airport of Heraklion, nearby many point of interest such as the archaeological site of Knossos, the plateau of Lassithi.

Surrounded by gardens, the Kyknos Hotel consists of 134 spacious bedrooms including family rooms recently renovated and all with modern comfort at your disposal.

Among the main building and the bungalows you can find the large swimming pool, the 2 children's pools with the water slides, the pool-snack bar, the children’s' playground, the tennis courts, the mini golf course, the mini market and the parking lot.

The family of Georgios and Eva Tsamandouras have been running this Hotel for the past 10 years with a lot of success, offering to their guests a comfortable, family atmosphere, that you only find in such small properties like "KYKNOS HOTEL".

Kyknos Hotel is situated between Malia and Stalida, a place that attracts thousands of visitors every summer...

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In the center of Argostoli, in one of the quietest neighborhoods of the town and very close to the central square you will find “Kyknos Studios and Apartments”, an ideal place for carefree summer vocations.

On the 1st floor there are also double bed rooms with a loft where there is space for an additional bed.

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Driving Directions To The Property - From North - Kyknos Is Only 96 Kms Away From The Highway Of Heraklion-agios Nikoaos.

Cancellation Policy: -13may03 - End - Cancel By 3 Days Prior To 1200 Hours On Day Of Arrival, Local Hotel Time To Avoid A Cancellation Penalty Cancellation And/Or No Show Charge Is Equivilant To A 1 Night Stay.

Jakub 'Kyknos' Friedl is a member of Fantasy and SciFi Art gallery 221 at Elfwood.

I was born in 1976 in Prague, Europe.

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Kyknos is a 4-star Holiday Resort, situated 32km east of the airport of Heraklion between Malia and Stalida, a place that attracts thousands of visitors every summer.

The hotel has 26 rooms, 73 bungalows, a warm reception hall with a comfortable lobby, one large swimming pool and a children's pool, a pool bar, one restaurant, one tennis court, a children playground and a parking lot.